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Gmatindia379
Joined: 15 Dec 2022
Last visit: 02 Apr 2024
Posts: 30
Own Kudos:
Given Kudos: 8
Location: India
Schools: ISB '25 (A)
GRE 1: Q164 V167
GPA: 80
24 Jul 2023, 11:33
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I am reaching out to seek your guidance and support as I navigate through a significant decision regarding my MBA aspirations.
Allow me to provide some context about my background and goals. I come from a joint family business background, specifically in third-party pharma manufacturing. In my MBA application, I plan to leverage this experience to showcase my dedication to the industry and my long-term goal of running my own business. However, my true passion lies in transitioning to a product management role in the tech or consultancy field post MBA.
As I delved deeper into this path, concerns have arisen. I am apprehensive about whether transitioning from a non-traditional(family business) MBA background to the tech or consultancy industry is feasible, especially considering the burden of taking an expensive loan from India. My current salary is significantly lower than the average expected salary post MBA in the USA, making it challenging to repay the loan without securing a job in my desired field.
I am torn between pursuing my dreams and managing the practical aspects of the financial burden. I wanted to seek your expert advice on whether I should go ahead with the MBA journey and if there are opportunities to achieve my goal of shifting industries post MBA, given the circumstances.
Thank you for your time and consideration. Your insights would be invaluable in helping me make an informed decision.
Best regards,
Posted from my mobile device
Allow me to provide some context about my background and goals. I come from a joint family business background, specifically in third-party pharma manufacturing. In my MBA application, I plan to leverage this experience to showcase my dedication to the industry and my long-term goal of running my own business. However, my true passion lies in transitioning to a product management role in the tech or consultancy field post MBA.
As I delved deeper into this path, concerns have arisen. I am apprehensive about whether transitioning from a non-traditional(family business) MBA background to the tech or consultancy industry is feasible, especially considering the burden of taking an expensive loan from India. My current salary is significantly lower than the average expected salary post MBA in the USA, making it challenging to repay the loan without securing a job in my desired field.
I am torn between pursuing my dreams and managing the practical aspects of the financial burden. I wanted to seek your expert advice on whether I should go ahead with the MBA journey and if there are opportunities to achieve my goal of shifting industries post MBA, given the circumstances.
Thank you for your time and consideration. Your insights would be invaluable in helping me make an informed decision.
Best regards,
Posted from my mobile device
24 Jul 2023, 12:49
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Dear Gmatindia379,
Based on your post, it seems that there are multiple topics that’s bothering you. I will try to address them one at a time.
Viability of transition from Family Business Background TO Consulting or Product Management: The transition while difficult is achievable if you are able to demonstrate subject matter expertise in pharma manufacturing and supply chain. Pharma industry in US is huge (speaking from my own experience of working in Pharma Consulting pre-MBA) and a huge cash cow sector. Consulting companies get paid in millions by their pharma clients to bring even small scale impact. Considering this, if you are able to demonstrate that your professional experience will potentially add value to US Pharma industry, you can make a good target for Pharma focussed consulting firms.
Product management to be honest will be fairly difficult considering you are neither come from a software / hardware background, nor you have worked in any product-based roles. I will sincerely urge you to stay away from writing PM as a short term goal.
Repayment of Loan: Its always recommended to repay the loan in the same currency in which it was taken. Assuming you will take atleast 75% of your MBA fees as loans, it is recommended you stay and work in US itself till you are able to repay. Considering your apprehension, why don’t you try for reputed schools in India such as ISB PGP or the IIM Executive MBAs. That ways neither will you have a burden of hefty loan, nor will you have to worry about compromising on your dream career post MBA.
Should you even apply? Yes, absolutely you should specially considering the fact that you might reach some level of stagnation in a family business setting with multiple stakeholders. Even for that setup, having management education will actually help you to contribute more vis a vis your AS-IS scenario. Every year atleast 2-5% of the cohort in global business schools comprise of applicants who have prior Family Business background. It all depends on how you showcase that you will be able to add value to the P2P learning of the cohort based on your background.
I am an ISB alum,CO15, and have been guiding applicants successfully navigate their admission journeys for the last several years. Feel free to reach out if you seek professional assistance.
I wrote a blog on a topic that is aligned with your question - https://www.crackadmission.com/getting- ... ackground/. Hope this will be of use to you as you make your final decision.
Cheers and all the very Best!
Based on your post, it seems that there are multiple topics that’s bothering you. I will try to address them one at a time.
Viability of transition from Family Business Background TO Consulting or Product Management: The transition while difficult is achievable if you are able to demonstrate subject matter expertise in pharma manufacturing and supply chain. Pharma industry in US is huge (speaking from my own experience of working in Pharma Consulting pre-MBA) and a huge cash cow sector. Consulting companies get paid in millions by their pharma clients to bring even small scale impact. Considering this, if you are able to demonstrate that your professional experience will potentially add value to US Pharma industry, you can make a good target for Pharma focussed consulting firms.
Product management to be honest will be fairly difficult considering you are neither come from a software / hardware background, nor you have worked in any product-based roles. I will sincerely urge you to stay away from writing PM as a short term goal.
Repayment of Loan: Its always recommended to repay the loan in the same currency in which it was taken. Assuming you will take atleast 75% of your MBA fees as loans, it is recommended you stay and work in US itself till you are able to repay. Considering your apprehension, why don’t you try for reputed schools in India such as ISB PGP or the IIM Executive MBAs. That ways neither will you have a burden of hefty loan, nor will you have to worry about compromising on your dream career post MBA.
Should you even apply? Yes, absolutely you should specially considering the fact that you might reach some level of stagnation in a family business setting with multiple stakeholders. Even for that setup, having management education will actually help you to contribute more vis a vis your AS-IS scenario. Every year atleast 2-5% of the cohort in global business schools comprise of applicants who have prior Family Business background. It all depends on how you showcase that you will be able to add value to the P2P learning of the cohort based on your background.
I am an ISB alum,CO15, and have been guiding applicants successfully navigate their admission journeys for the last several years. Feel free to reach out if you seek professional assistance.
I wrote a blog on a topic that is aligned with your question - https://www.crackadmission.com/getting- ... ackground/. Hope this will be of use to you as you make your final decision.
Cheers and all the very Best!
26 Jul 2023, 10:20
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Gmatindia379
While I strongly believe it is YOU taking a call to your career direction and transitioning, I can safely say you don't necessarily need to SWITCH; in fact, after a detailed profile assessment, your consultant should be able to discuss with you options to combine both, and in the process also launch your family business to a much higher platform
As for the loans, for most of the T20 schools, you can get collateral free loans from the US.
Happy to discuss your profile 1-to-1, and answer your questions
